- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 13.74 | 1316.49 | -28.62 | -10.27 | 50.7 | -237.48 | -13.47 | 16.07 | -424.58 | 25.44 | 305.49 | 946.91 | 6.01 | 274.71 | 311.64 | 4.63 | 295.36 | 438.37 | 0.18 | -5.26 | -47.06 | -8.98 | 27.11 | -246.49 | 29.25 | -3.91 | -59.62 | 75.76 | -40.93 | -58.26 | 24.24 | 179.65 | 129.75 | 26.70 | 24.71 | 133.6 |
| 23Q3 (19) | 0.97 | -94.68 | -94.97 | -20.83 | -509.23 | -338.06 | -16.05 | -291.07 | -208.23 | -12.38 | -299.04 | -200.57 | -3.44 | -217.41 | -134.3 | -2.37 | -226.06 | -143.25 | 0.19 | -36.67 | -56.82 | -12.32 | -217.22 | -174.44 | 30.44 | -48.34 | -61.54 | 128.26 | 112.12 | 117.87 | -30.43 | -176.98 | -174.0 | 21.41 | 45.35 | 94.64 |
| 23Q2 (18) | 18.24 | -10.19 | 31.6 | 5.09 | -49.0 | 76.74 | 8.40 | -5.72 | 26.89 | 6.22 | -12.39 | 11.47 | 2.93 | -30.73 | -15.8 | 1.88 | -28.24 | -1.57 | 0.30 | -18.92 | -11.76 | 10.51 | -1.22 | 19.7 | 58.92 | 11.85 | -34.39 | 60.47 | -46.75 | 38.71 | 39.53 | 433.22 | -29.92 | 14.73 | 36.01 | 24.3 |
| 23Q1 (17) | 20.31 | 5.51 | 46.22 | 9.98 | 33.6 | 136.49 | 8.91 | 114.7 | 26.92 | 7.10 | 192.18 | 24.56 | 4.23 | 189.73 | 0.71 | 2.62 | 204.65 | 4.38 | 0.37 | 8.82 | -15.91 | 10.64 | 73.57 | 20.63 | 52.68 | -27.28 | -34.52 | 113.56 | -37.43 | 90.62 | -11.86 | 85.44 | -129.35 | 10.83 | -5.25 | 9.5 |
| 22Q4 (16) | 19.25 | -0.1 | 241.31 | 7.47 | -14.63 | 292.53 | 4.15 | -72.02 | 205.06 | 2.43 | -80.26 | 178.14 | 1.46 | -85.44 | 175.65 | 0.86 | -84.31 | 169.92 | 0.34 | -22.73 | -15.0 | 6.13 | -62.96 | 411.17 | 72.44 | -8.47 | 30.17 | 181.48 | 208.27 | 81.48 | -81.48 | -298.11 | 0 | 11.43 | 3.91 | 6.33 |
| 22Q3 (15) | 19.27 | 39.03 | 205.39 | 8.75 | 203.82 | 188.83 | 14.83 | 124.02 | 258.78 | 12.31 | 120.61 | 261.76 | 10.03 | 188.22 | 514.46 | 5.48 | 186.91 | 438.27 | 0.44 | 29.41 | 109.52 | 16.55 | 88.5 | 390.35 | 79.14 | -11.88 | 40.42 | 58.87 | 35.06 | -43.16 | 41.13 | -27.09 | 675.81 | 11.00 | -7.17 | -41.08 |
| 22Q2 (14) | 13.86 | -0.22 | -2.81 | 2.88 | -31.75 | 270.41 | 6.62 | -5.7 | 295.28 | 5.58 | -2.11 | 303.65 | 3.48 | -17.14 | 491.01 | 1.91 | -23.9 | 403.17 | 0.34 | -22.73 | 47.83 | 8.78 | -0.45 | 0 | 89.81 | 11.63 | 107.94 | 43.59 | -26.83 | -4.1 | 56.41 | 39.54 | 24.1 | 11.85 | 19.82 | -29.08 |
| 22Q1 (13) | 13.89 | 146.28 | -23.43 | 4.22 | 208.76 | 21.61 | 7.02 | 277.72 | 99.43 | 5.70 | 283.28 | 105.78 | 4.20 | 317.62 | 356.52 | 2.51 | 304.07 | 274.63 | 0.44 | 10.0 | 83.33 | 8.82 | 547.72 | 29.9 | 80.45 | 44.56 | 125.54 | 59.57 | -40.43 | -40.43 | 40.43 | 0 | 0 | 9.89 | -8.0 | -40.71 |
| 21Q4 (12) | 5.64 | -10.62 | -64.14 | -3.88 | 60.61 | -181.86 | -3.95 | 57.71 | -200.51 | -3.11 | 59.13 | -197.8 | -1.93 | 20.25 | -238.85 | -1.23 | 24.07 | -220.59 | 0.40 | 90.48 | 25.0 | -1.97 | 65.44 | -133.28 | 55.65 | -1.26 | 37.17 | 100.00 | -3.45 | -15.0 | -0.00 | 100.0 | 100.0 | 10.75 | -42.42 | -17.43 |
| 21Q3 (11) | 6.31 | -55.75 | -64.61 | -9.85 | -482.84 | -308.25 | -9.34 | -175.52 | -294.58 | -7.61 | -177.74 | -309.07 | -2.42 | -171.91 | -262.42 | -1.62 | -157.14 | -258.82 | 0.21 | -8.7 | -25.0 | -5.70 | 0 | -181.31 | 56.36 | 30.49 | 66.45 | 103.57 | 127.86 | 3.57 | -7.14 | -115.71 | 0 | 18.67 | 11.73 | 20.76 |
| 21Q2 (10) | 14.26 | -21.39 | -13.73 | -1.69 | -148.7 | -140.33 | -3.39 | -196.31 | -169.18 | -2.74 | -198.92 | -182.78 | -0.89 | -196.74 | -165.93 | -0.63 | -194.03 | -170.0 | 0.23 | -4.17 | -14.81 | 0.00 | -100.0 | -100.0 | 43.19 | 21.08 | -26.97 | 45.45 | -54.55 | -46.52 | 45.45 | 0 | 203.03 | 16.71 | 0.18 | 0 |
| 21Q1 (9) | 18.14 | 15.32 | -9.98 | 3.47 | -26.79 | -42.83 | 3.52 | -10.43 | -48.08 | 2.77 | -12.89 | -48.32 | 0.92 | -33.81 | -58.93 | 0.67 | -34.31 | -57.86 | 0.24 | -25.0 | -20.0 | 6.79 | 14.7 | -22.58 | 35.67 | -12.08 | -16.11 | 100.00 | -15.0 | 11.54 | 0.00 | 100.0 | -100.0 | 16.68 | 28.11 | 0 |
| 20Q4 (8) | 15.73 | -11.78 | -23.34 | 4.74 | 0.21 | -36.38 | 3.93 | -18.12 | -44.26 | 3.18 | -12.64 | -59.95 | 1.39 | -6.71 | -64.45 | 1.02 | 0.0 | -62.77 | 0.32 | 14.29 | -5.88 | 5.92 | -15.55 | -32.03 | 40.57 | 19.82 | 1.2 | 117.65 | 17.65 | 11.11 | -17.65 | 0 | -200.0 | 13.02 | -15.78 | 133.75 |
| 20Q3 (7) | 17.83 | 7.86 | -6.94 | 4.73 | 12.89 | -31.05 | 4.80 | -2.04 | -39.55 | 3.64 | 9.97 | -56.62 | 1.49 | 10.37 | -69.65 | 1.02 | 13.33 | -67.31 | 0.28 | 3.7 | -24.32 | 7.01 | -0.43 | -27.21 | 33.86 | -42.75 | -26.3 | 100.00 | 17.65 | 14.71 | 0.00 | -100.0 | -100.0 | 15.46 | 0 | 1.31 |
| 20Q2 (6) | 16.53 | -17.97 | -11.32 | 4.19 | -30.97 | -48.14 | 4.90 | -27.73 | -44.0 | 3.31 | -38.25 | -59.49 | 1.35 | -39.73 | -80.32 | 0.90 | -43.4 | -77.67 | 0.27 | -10.0 | -44.9 | 7.04 | -19.73 | -30.09 | 59.14 | 39.09 | -19.32 | 85.00 | -5.19 | -7.92 | 15.00 | 45.0 | 95.0 | 0.00 | 0 | -100.0 |
| 20Q1 (5) | 20.15 | -1.8 | 21.61 | 6.07 | -18.52 | 55.24 | 6.78 | -3.83 | 55.86 | 5.36 | -32.49 | 56.27 | 2.24 | -42.71 | 7.69 | 1.59 | -41.97 | 25.2 | 0.30 | -11.76 | -16.67 | 8.77 | 0.69 | 38.77 | 42.52 | 6.06 | -38.62 | 89.66 | -15.33 | 0.2 | 10.34 | 275.86 | -1.72 | 0.00 | -100.0 | -100.0 |
| 19Q4 (4) | 20.52 | 7.1 | 0.0 | 7.45 | 8.6 | 0.0 | 7.05 | -11.21 | 0.0 | 7.94 | -5.36 | 0.0 | 3.91 | -20.37 | 0.0 | 2.74 | -12.18 | 0.0 | 0.34 | -8.11 | 0.0 | 8.71 | -9.55 | 0.0 | 40.09 | -12.73 | 0.0 | 105.88 | 21.45 | 0.0 | -5.88 | -145.88 | 0.0 | 5.57 | -63.5 | 0.0 |
| 19Q3 (3) | 19.16 | 2.79 | 0.0 | 6.86 | -15.1 | 0.0 | 7.94 | -9.26 | 0.0 | 8.39 | 2.69 | 0.0 | 4.91 | -28.43 | 0.0 | 3.12 | -22.58 | 0.0 | 0.37 | -24.49 | 0.0 | 9.63 | -4.37 | 0.0 | 45.94 | -37.33 | 0.0 | 87.18 | -5.56 | 0.0 | 12.82 | 66.67 | 0.0 | 15.26 | 26.96 | 0.0 |
| 19Q2 (2) | 18.64 | 12.49 | 0.0 | 8.08 | 106.65 | 0.0 | 8.75 | 101.15 | 0.0 | 8.17 | 138.19 | 0.0 | 6.86 | 229.81 | 0.0 | 4.03 | 217.32 | 0.0 | 0.49 | 36.11 | 0.0 | 10.07 | 59.34 | 0.0 | 73.30 | 5.82 | 0.0 | 92.31 | 3.17 | 0.0 | 7.69 | -26.92 | 0.0 | 12.02 | -19.81 | 0.0 |
| 19Q1 (1) | 16.57 | 0.0 | 0.0 | 3.91 | 0.0 | 0.0 | 4.35 | 0.0 | 0.0 | 3.43 | 0.0 | 0.0 | 2.08 | 0.0 | 0.0 | 1.27 | 0.0 | 0.0 | 0.36 | 0.0 | 0.0 | 6.32 | 0.0 | 0.0 | 69.27 | 0.0 | 0.0 | 89.47 | 0.0 | 0.0 | 10.53 | 0.0 | 0.0 | 14.99 | 0.0 | 0.0 |
| 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 15.53 | -7.5 | 0.49 | -91.94 | 2.05 | 51.98 | 1.40 | -83.76 | 6.23 | -9.71 | 9.85 | -48.62 | 6.54 | -44.34 | 1.05 | -37.5 | 3.97 | -62.23 | 29.25 | -59.62 | 33.33 | -52.69 | 66.67 | 125.71 | 0.36 | -14.77 | 16.04 | 45.69 |
| 2022 (9) | 16.79 | 62.85 | 6.08 | 0 | 1.35 | -35.09 | 8.62 | 0 | 6.90 | 0 | 19.17 | 0 | 11.75 | 0 | 1.68 | 54.13 | 10.51 | 0 | 72.44 | 30.17 | 70.46 | -23.27 | 29.54 | 261.81 | 0.42 | -65.59 | 11.01 | -25.96 |
| 2021 (8) | 10.31 | -41.32 | -3.01 | 0 | 2.07 | 20.49 | -3.29 | 0 | -2.65 | 0 | -4.28 | 0 | -2.88 | 0 | 1.09 | -7.63 | -0.40 | 0 | 55.65 | 37.17 | 91.84 | -4.72 | 8.16 | 125.85 | 1.23 | -23.79 | 14.87 | 4.5 |
| 2020 (7) | 17.57 | -6.44 | 4.95 | -26.56 | 1.72 | 22.5 | 5.11 | -29.03 | 3.89 | -45.59 | 6.44 | -61.78 | 4.61 | -59.24 | 1.18 | -24.84 | 7.13 | -19.25 | 40.57 | 1.2 | 96.39 | 2.86 | 3.61 | -42.57 | 1.62 | 2161.47 | 14.23 | 19.68 |
| 2019 (6) | 18.78 | 14.44 | 6.74 | 37.27 | 1.40 | -44.77 | 7.20 | 26.09 | 7.15 | 46.22 | 16.85 | 27.55 | 11.31 | 49.6 | 1.57 | 2.61 | 8.83 | 2.08 | 40.09 | -36.67 | 93.71 | 8.79 | 6.29 | -54.6 | 0.07 | -59.41 | 11.89 | 4.21 |
| 2018 (5) | 16.41 | 31.7 | 4.91 | 69.9 | 2.54 | -16.15 | 5.71 | 169.34 | 4.89 | 184.3 | 13.21 | 205.08 | 7.56 | 197.64 | 1.53 | 4.08 | 8.65 | 51.22 | 63.30 | -30.7 | 86.14 | -37.51 | 13.86 | 0 | 0.18 | 0 | 11.41 | -14.66 |
| 2017 (4) | 12.46 | -6.67 | 2.89 | -22.73 | 3.03 | -22.0 | 2.12 | -38.9 | 1.72 | -47.4 | 4.33 | -44.7 | 2.54 | -51.25 | 1.47 | -7.55 | 5.72 | -27.5 | 91.34 | 67.17 | 137.84 | 29.48 | -37.84 | 0 | 0.00 | 0 | 13.37 | 5.52 |
| 2016 (3) | 13.35 | -0.6 | 3.74 | 43.3 | 3.89 | -3.18 | 3.47 | 9.81 | 3.27 | 10.1 | 7.83 | 12.02 | 5.21 | 3.37 | 1.59 | -5.92 | 7.89 | 1.28 | 54.64 | 19.59 | 106.45 | 29.26 | -8.06 | 0 | 0.00 | 0 | 12.67 | -1.25 |
| 2015 (2) | 13.43 | 304.52 | 2.61 | 0 | 4.02 | -12.01 | 3.16 | 0 | 2.97 | 0 | 6.99 | 0 | 5.04 | 0 | 1.69 | 37.4 | 7.79 | 0 | 45.69 | 40.63 | 82.35 | -26.2 | 17.65 | 0 | 0.00 | 0 | 12.83 | -30.04 |
| 2014 (1) | 3.32 | 0 | -13.48 | 0 | 4.57 | 53.15 | -12.10 | 0 | -12.35 | 0 | -19.12 | 0 | -15.12 | 0 | 1.23 | 3.36 | -6.67 | 0 | 32.49 | 54.86 | 111.59 | 8.63 | -11.59 | 0 | 0.00 | 0 | 18.34 | 38.31 |
